G6 pilots ‘ground-breaking’ contract checking process
The G6 group of Lloyd’s Managing Agents today confirmed the pilot of a new approach to contract checking. The new process aims to support brokers in achieving contract certainty targets and radically reduce the time involved in the current procedure, while maintaining the highest standards of risk assessment. Under the new proposals, the total number of administrative checks to contracts will be reduced by approximately 70% to focus on the key checks that are most instrumental in managing risk.
Richard Ward, chief executive of Lloyd’s, yesterday announced full support for Lloyd’s Managing Agents undertaking a new approach to contract documentation.According to the G6, the current contract
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